Lead Management Process

To all folks who need a summary of Lead management process and benefits of designing lead management system. Please go through below points.

There are two main aspects for Lead Management Process

1) Quality of Leads ( % of Leads accepted and working vs % of Leads rejected and disqualified)
2) Conversion of Leads ( What % of Leads are converted and what was the time frame)

Lead Management - Life Cycle :

There are two main components to determine Lead Management Life Cycle

Lead Status : Open/Contacted/Working, Closed/Converted, Nurture, Dead

Lead Source : Where did the lead come from? Web / Trade Show, Word of Mouth, Advertising, Webinar


Lead Stage  - Custom Field

Lead stage defines where the Lead is in the Lead life cycle

• Marketing Qualified - Did marketing consider this a Lead good enough for sales to work on?
• Sales Rejected - Did sales decide this lead was not a good lead to work on and send back to marketing for nurture or consider it dead
• Sales Accepted - Did sales agree to work on this lead
• Sales Qualified - Sales has worked this lead and considers it qualified enough to develop an opportunity
• Sales Disqualify a lead saying there is no opportunity of this lead

Lead Management Different Stages

Lead Score - Custom Field

Defines the priority a lead should be given

Below are the parameters based on which lead score can be given

• Quality - How complete is the data in the lead record?
• Aging - Is the lead more then 30 days?
• BANT - Is there a Budget, Need, Authority and a Timeframe to purchase

Lead Scoring

Quality - Score 5-1

If all the information related to lead is filled out then it is a quality lead and higher score can be given

Aging - Score 5-1

New leads are always given higher score than once which are sitting on the bench for long

BANT Cumulative Score

Budget - 5-1
If some one doesn't have the budget then such a lead will be given low score. But its not a bad lead.

Authority = 1- Yes 0 - No
Sales person suspecting the prospect customer whether he will be able to generate business or not.

Need = 1 - yes 0 - No

Time Frame =

4 - Less then 3 months
3 - 3 monts - 6 months
2 - 6 months - 1 year
1 - More than 1 year

From the above screen based on the score given to a lead the Sales can either qualify or disqualify a lead.

By following Lead management process, We will be able to address below points.

• Monitor quality of leads
• Gauge velocity of leads
• Identify bottlenecks in the process
• Have an opportunity to make improvements and increase lead conversion
• How many days each lead has been in each stage?
• How long it takes to move a lead from Marketing qualified to Sales accepted Lead?
• This will also allow to measure the performance of the sales rep to understand how much time the sales rep is taking to  move the lead into different stages